stage i assessment supports fast track develop, page-44

mjp2 - everone here is all over the need for an interim cap raising; but the base case is it won't need to be the massive, dilutive scare story you are propagating.

why, well given xstrata owns a big chunk of the register, i am certain that a massive, discounted placement might be met with a 'we object'. their geos are supervising the drilling so they like the project and their sales desk will be well placed to ink the off-take/capex finance. so no need to dilute themselves.

off course, being a gorilla it wont be the best deal ever for our minnow. but luckily the market is pricing in the worst deal since bond bought channel 9 from packer in the sp.

anyway, the last two avb corporate deals ($20m @ 10cps, Xstrata scrop offer) have been absolute crackers for the company.

nice liquidity today ... let the traders scalp their beer money and then lets see what the rest of the week brings.